We all want personal fulfillment and empowerment, especially in these uncertain times. We want to be in control of our time, our jobs, and our earning potential. And, some of us know that working for someone else is simply a necessary means to an end. You go to work, you do a good job, you get paid for your productivity and efficiency and your value to the company, you bring home your paycheck and you get up the next day and do it all again. But, do you really feel a sense of personal empowerment and happiness? What are the odds that you are going to create “personal wealth” working for someone else? You are more likely contributing to someone else’s personal wealth!
Please keep reading if you would like to know more about personal empowerment and how business ownership can create wealth and personal happiness.
Americans as a whole, are very entrepreneurial people. Small businesses and small firms are the backbone of our economy, in good times and in bad. According to statistics by SBA.gov, office of Advocacy. small businesses:
- Represent 99.7 percent of all employer firms.
- Employ just over half of all private sector employees.
- Pay 44 percent of total U.S. private payroll.
- Have generated 64 percent of net new jobs over the past 15 years.
- Create more than half of the non-farm private gross domestic product (GDP).
- Hire 40 percent of high-tech workers (such as scientists, engineers, and computer programmers).
- Are 52 percent home-based and 2 percent franchises.
- Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.
- Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.
Please note the astonishing statistic that 52% of small businesses are home-based!
With the above statistics in mind, I think it is safe to say that being a successful business owner and entrepreneur empowers you and can give you control over your financial future and your personal happiness. I also think it is safe to say, that, even if you are making a good living working for someone else, you probably aren’t going to “create wealth” while working for someone else.
People who own their own businesses express contentment, even when they own stressful businesses. The small business owner understands that he is working hard and enduring long hours because is working for himself. He and his family will be the direct beneficiaries of all that hard work. Many businesses are “family-owned and operated.” If you are working for someone else, can you pass your position on to your son or daughter? A family business is a legacy! And, even if you don’t pass your business down to your children or grandchildren, can you sell your current position when you decide to retire? A business is an asset. Your current job is just that: a job.
It has long been known that personal empowerment,and business ownership can create wealth and lead to personal happiness. I’m not saying that owning your own small business is easy, but, we all have to work, and most of us work pretty hard. So, what I AM saying is this: if it’s worth doing, it is worth doing for yourself!
You owe it to yourself to at least look into owning your own business: You’ve probably thought about it a million times. Give yourself the gift of personal empowerment and find out how business ownership can create wealth and personal happiness for you and your family.